A former promoter for collapsed cryptocurrency platform BitConnect Australia has been charged following an ASIC investigation.
John Louis Anthony Bigatton has been charged with operating an unregistered managed investment scheme, providing unlicensed financial services on behalf of another person, and four counts of making false or misleading statements affecting market participation. Mr Bigatton was previously banned from providing financial services in September.
ASIC alleges that Mr Bigatton operated the unregistered scheme known as the BitConnect Lending Platform in Australia. Bitconnect was suspected of being a ponzi scheme before it collapsed. At the time of its collapse, its it had an estimated market capitalization of over US$2.5 billion.
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